(CercleFinance.com) – The European Commission has cleared the acquisition of joint control of Jaja Finance Holding (UK) by Bellis Phantom Holdco, both of the United Kingdom, and KKR of the United States.
Jaja provides co-branded credit card issuance services and payment solutions.
The Commission concluded that the proposed acquisition would not raise any competition concerns, as Jaja has no actual or planned activities in the territory of the European Economic Area and neither Bellis nor KKR nor their controlling shareholders are active in the same product and geographic market as Jaja or in a product market located upstream or downstream of these markets.
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